The document was sent to Alistair Darling, the then-chancellor, in December 2007 and was the Bank of England's input into his review of the lessons for the tripartite authorities – the Bank, the Treasury and the Financial Services Authority – following the crisis at Northern Rock. The coalition is in the process of tearing up this system of regulation.

The first use of the black marker pen appears here

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On the second, it appears to suggest that the authorities had been closely monitoring another financial institution after Northern Rock got into difficulty

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The Bank of England also mounts a robust defence of its own handling of the crisis.

The fundamental weakness has not been the way the authorities organised themselves; it has been the lack of effective instruments available to use to handle a distressed bank. At all stages, this seriously limited our ability to deal with Northern Rock. And it continues to do so.